Super Group FY24 revenue reaches €1.7bn

Key points:

– Super Group has posted yearly rises in revenue for both Q4 & FY24

– The operator reported an 111% EBITDA rise for Q4

– EBITDA from US operations settled at a €60.8m loss for 2024

– The group has now increased its dividend program targets

Super Group has posted its official Q4 and full year 2024 financial results, highlighting a revenue figure of €1.7bn ($1.78bn) for the year.

The Betway owner and operator also revealed its financial results from the final quarter of 2024, in which it generated €500m in revenue – a figure that represents a rise of 39% year-on-year. Elsewhere, this latest FY24 revenue figure of €1.7bn is also representative of an 18% upswing in comparison to results from 2023.

Q4 results

Indeed, Super Group’s revenue rose to €500m during Q4 2024, up from the €359.9m that was generated through the final quarter of 2023. This figure also outpaced the €402.9m posted in Q3 2024. Elsewhere, however, profit before tax for the fourth quarter of the year amounted to €96.8m – a stark contrast to the €35.9m loss that was posted the year prior.

Regarding adjusted EBITDA, the €118.1m posted by Super Group for the final quarter of the year represents a healthy uptick of 111.4% in comparison to results from the year prior. Monthly average customers also rose by 12% year-on-year to 5.3 million for Q4.

FY24 results

The €1.7bn generated in revenue by Super Group during 2024 marks an 18% increase, a figure complemented by a sizeable rise of 167% in profit before tax in comparison to results from FY23.

Elsewhere, monthly average customers for the year increase from 4 million in 2023 to 4.8 million in 2024, with adjusted EBITDA (excluding the US market) reaching €391.1m. Despite this, adjusted EBITDA for the US market in isolation fell to a loss of €60.8m for the year. As such, overall company EBITDA settled at €330.3m during 2024.

2025 outlook

In the wake of these latest financial figures, Super Group has also released its projected financial figures for the upcoming year, with revenue projections excluding the US market totaling €1.83bn in revenue, coupled with an EBITDA projection of €435m. Revenue projections for the US market total €85m, with between €30m and €35m being anticipated in EBITDA from the region,

Combined, the operator’s projected revenue for 2025 is anticipated to reach €1.92bn, with adjusted EBITDA reaching €400m.

Good to know: In July 2024, Super Group announced its full exit from the US sportsbook market

Highlights from the year

It was a busy year for Super Group, who appointed Elen Barber as its new Chief Marketing Officer in April, news that was then followed by the announcement that its subsidiary company – Betway – had been named as the official betting partner of Chelsea FC.

Moreover, in June, the company initiated a dividend program following strong performance from the first quarter of 2024. Now, as part of this latest announcement, the group has confirmed that – subject to approval from the BOD – it will be increasing its dividend program targets from €0.10 to €0.16 per share in 2025.

Neal Menashe, Super Group CEO, commented: “The company made phenomenal progress in 2024, and we are proud of our strong finish to the year and the record-setting performance across the business. In December, we declared a special dividend, bringing our total 2024 shareholder returns to over $125m, and going forward, I’m pleased to announce that we plan to increase our minimum quarterly dividend target to 4.0 cents per share up from 2.5 cents, in line with our commitment to continue returning excess cash to our shareholders.

“As we begin 2025, we are deeply focused on our key growth markets, offering a highly bespoke and localised product, maintaining a lean cost base and having a significant marketing budget ready for the right investment opportunities. We believe that Super Group is in an excellent position to build on last year’s success, and we look forward to another year of solid growth.”